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Is a Slow Hiring Process Hurting Your Hiring Efforts?
Many factors affect the speed of the hiring process. Not all are in your control; everyone knows how suddenly we can get sidetracked.
It is important to do all you can to keep an efficient pace. There is no exact number of weeks that suits every opening or company, but you must avoid excessively slow hiring. Only emergencies and executive hunts should stretch past the two month mark.
Why A Slow Hiring Process Is Problematic
Slow hires can be as damaging as hires made in desperation at break-neck speed. Here’s why:
- You can lose top candidates. The best people, particularly for highly skilled positions, are going to have a shot at quite a few jobs. If you drag out the process, you risk losing them to a competitor or to simple frustration. This has long-term consequences for your profits. You are also risking your reputation with future industry players.
- Remaining candidates are less desirable. Not only will you lose highly skilled, in-demand people, but you will lose good candidates for lower level jobs as well. They are even more likely to be applying to multiple positions and even more likely to accept an offer they get – and forget about yours.
Some employers think a slow hiring process means a better result. After all, you have more time to go over everything carefully. Know that your best candidates may drop out of the process before you have a chance to hire them.
- Your employees and productivity may suffer. You may not think it’s a huge deal for the project team to be down by one or for your receptionist to take extra calls. However, these things do have a negative effect on the performance of employees forced to shoulder extra duties.
- You incur more hiring costs. More interviews, more meetings, more phone calls, more tests, more travel. It’s going to add up, even if you are not constantly engaged with the hiring process. Make hiring a priority and prepare properly so you get the most information possible out of interviews and assessments.
- You lose immediate revenue. If the position is vacant, it’s obvious you lose revenue associated with the role. You also lose revenue due to the decreased productivity of other workers. In addition, you may be unable to take on more clients or customers, causing them to use other businesses. This leads to significant long-term revenue cost.
- Your reputation may suffer. You may strike candidates as unprofessional. In addition, you might be slower at returning phone calls, finishing up that contract, seeing those patients – depending on the position, you’re making the customers and clients you depend on wait. Don’t risk your reputation.
Slow hiring is harmful, but don’t rush through the process too quickly. Speed can lead to bad hires – forcing you to go through the process again – and creates an unnecessary need for extra interviews and time. Get the most out of interviews and resume reviews the first time and avoid the risks of slow hiring.
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